Airplane leasing world shrinks with $7.4 billion takeover of Air Lease
1. Air Lease to be acquired for $7.4 billion, going private. 2. The deal includes Sumitomo and SMBC Aviation Capital, valuing it at $28.2 billion. 3. Aircraft leasing market experiencing consolidation amid rising rental rates. 4. Spirit Airlines filed for bankruptcy, affecting industry profitability. 5. Air Lease is the fifth-largest lessor, with 495 planes in fleet.